311 Grays Inn Road, London WC1
Lease renewal advice to a landlord where lease inside the Landlord and Tenant Act 1954
A renewal of a 15 year lease that had the protection of the Landlord and Tenant Act 1954.
The property was used as a ground floor and basement takeaway with 3 floors of offices above.
In addition to the typical dialogue over rental values and size, the renewal was complicated by the tenant’s unsatisfied obligation to carry out works to the property, that should have been finished shortly after the original lease began.
These works had an implication of the property’s rental value and a rigorous debate ensued as to whether the value of the incomplete works could be considered when determining the new market rental value.
As the property was held under a 1954 Act tenancy, the property was also to be valued in accordance with Section 34 of The Act.
This lease was ultimately renewed without the need for the Courts to determine the new rent and other significant lease terms.
Client
A private property company landlord.
Location
King’s Cross.
Property
A mixed use building with it’s accommodation over basement, ground and 3 upper floors and extending to 1,900 sq. ft.
Lease type
A lease within the Landlord and Tenant Act 1954.
Do you require advice on a 1954 Act lease renewal?
If so, why not give us a call or send us an email?
David Shapiro
